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10 Stats That Disprove Trump's Claim We're Enjoying the "Best Economy and Jobs EVER"
Written by <a href="index.php?option=com_comprofiler&task=userProfile&user=37487"><span class="small">In These Times</span></a>   
Saturday, 01 June 2019 08:29

Excerpt: "Despite Trump's frequent suggestions that his tax plan has led to the 'Best Economy & Jobs EVER,' the CRS analysis indicates that the law has had limited overall impact - and delivered its benefits almost entirely to corporations and the rich."

A Fight for $15 rally. (photo: Scott Olson/Getty Images)
A Fight for $15 rally. (photo: Scott Olson/Getty Images)


10 Stats That Disprove Trump's Claim We're Enjoying the "Best Economy and Jobs EVER"

By In These Times

01 June 19


This much is clear: The Trickle-Down Effect doesn’t work.

ast week, the Congressional Research Service (CRS), a nonpartisan branch of the Library of Congress, delivered its preliminary report on the far-reaching tax plan signed by President Donald Trump in December 2017. And despite Trump's frequent suggestions that his tax plan has led to the “Best Economy & Jobs EVER,” the CRS analysis indicates that the law has had limited overall impact—and delivered its benefits almost entirely to corporations and the rich. These findings are yet another example of how Trump’s bold economic claims belie the myriad challenges facing Americans. This month, In These Times collected 10 statistics that present a sobering vantage on American wealth since the Great Recession, revealing a nation defined by worsening inequality, stagnating wages and uneven economic development rather than universal prosperity.

  • 18.82% - Increase in gross domestic product (GDP) between 2007 and 2018

  • 43.16% - Increase in corporate profits after taxes from 2007 to 2018, adjusted for inflation

  • 65.97% - Increase in ratio of CEO-to-worker compensation from 2007 to 2017, adjusted for inflation

  • 29.2% - Increase in productivity from 2007 to 2017

  • 2.93% - Decline in how much of GDP workers took home between 2007 and 2017

  • 13.3% - Hourly pay increase from 2007 to 2017

  • $28 - Bonus from the 2017 Tax Cut and Jobs Act for each American worker, according to recent analysis by the CRS

  • 53% - Taxpayers who will pay more in taxes by 2027, due to the 2017 Tax Cuts and Jobs Act

  • 3.1% - Decrease in civilian labor participation between 2007 and 2018

  • 43% - College graduates who reported being underemployed in their first job, as of 2018

  • 76% - Counties in the United States that had fewer small businesses in 2016 than they did in 2007
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Last Updated on Saturday, 01 June 2019 08:55
 

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+12 # futhark 2019-06-01 10:41
Really, as Noam Chomsky has pointed out, Donald Trump's real constituency is the wealth and corporate sector, which really is enjoying the best economy ever.

https://boingboing.net/2019/04/20/useful-idiots-r-us.html

Trump gives lip service to issues like gun ownership rights and banning abortion because he hopes this will secure the popular votes he will need to stay in office, but actually has no real interest in them.

The nation needs a chief executive who is interested and capable of leading it in policies that promote the general welfare, not just the interests of powerful cliques.
 
 
+2 # Glen 2019-06-02 07:36
futhark, your last paragraph must also include a push for a new chief executive to surround the office with honorable, dedicated, assistants, who care about the country at large.